ECOMB (ECOMB) Q1 2025 earnings summary

Executive summary

• Q1 2025 marked by significant operational challenges, notably cost overruns in the Enköping project, leading to strained liquidity and negative earnings.

• Revenue declined sharply year-over-year, while the company continued to advance NOx reduction, CCS integration, and PFAS water purification initiatives.

• Order backlog decreased as major projects progressed, with new business development focused on Norway and PFAS solutions.

Financial highlights

• Net sales for the group were 292 TSEK in Q1 2025, down from 1,217 TSEK in Q1 2024.

• Result after financial items: -1,613 TSEK (Q1 2024: -439 TSEK); EPS: -2.59 SEK (Q1 2024: -0.01 SEK).

• Cash and cash equivalents at period end: -2,159 TSEK (Q1 2024: 231 TSEK).

• Order backlog declined in Q1 as the Enköping project neared completion.

Outlook and guidance

• Management maintains a positive long-term outlook for both emission reduction and PFAS purification segments, despite current financial strain.

• New contracts and a planned capital raise in Ocean Recycle are expected to improve liquidity and support growth.